OCK Group Berhad (OCK)

Who is OCK Group Berhad?

OCK Group Berhad (Bursa: 0172) is Malaysia's leading listed telecommunications infrastructure company, traded on the Main Market of Bursa Malaysia. Spanning over two decades of operations, OCK runs five core business segments: Telecommunication Network Services (TNS), Green Energy Solutions, Trading, Power Solutions (via subsidiary EI Power Berhad), and Investment Holding.

The TNS segment dominates, contributing approximately 94% of FY2025 revenue. Services include network planning, design, optimization, operations and maintenance (O&M), and energy infrastructure management. OCK is also a tower owner with presence across three countries:

• Malaysia: Core tower assets for domestic operations
• Myanmar: ~1,200 towers (tenancy ratio 1.4x)
• Vietnam: ~300 towers (tenancy ratio 1.2x) via the 55 South TowerCo acquisition — with an ambitious target of 4,300 towers by FY2026

The Big Story: EI Power Berhad IPO

On 21 May 2026, OCK's subsidiary EI Power Berhad listed on the ACE Market at an IPO price of RM0.48 per share, raising RM62.2 million for expansion. EI Power posted FY2025 revenue of RM77.4 million (+53.6% YoY), with 86.3% derived from data center projects. This positions OCK as a hidden-yet-increasingly-relevant data center infrastructure play.

Shariah Compliance

✅ OCK Group Berhad is Shariah-compliant, certified by the Shariah Advisory Council of the Securities Commission Malaysia. Suitable for Muslim investors seeking halal investments.

Key Shareholders

Aliran Armada Sdn Bhd holds 31.7% as the controlling entity. International institutional investor Norges Bank (the Central Bank of Norway) owns 2.9% — a positive signal that global professional investors back OCK. Free float stands at 56%, offering reasonable liquidity for retail investors.

OCK closed FY2026 (year ended 30 Jun 2026) with record numbers: revenue RM728.8m and PATAMI RM46.7m. The fourth quarter alone delivered revenue of RM229.0m and PATAMI of RM19.4m, the strongest quarter in the group's history.

*4Q EPS calculated by us from PATAMI and about 1.03bn shares; PBT for 4Q was not available in the sources we could verify. Quarters 1Q to 3Q come from our database of Bursa filings; 4Q figures are from press reports of the 27 August 2026 results announcement.

Revenue was RM728.8m for the year (about +13% YoY per press data). Phillip Capital reports that recurring revenue fell to 48.7% of the total (versus a historical 60%) because project work such as data centres and digital solutions grew faster than tower leasing: data centre revenue +55% and digital revenue more than 100%.

OCK declared its largest dividend on record for FY2026, equal to 1.76 sen per share. It combines a cash payment of 0.5 sen with a share dividend (distribution of treasury shares) of three treasury shares for every 100 shares held, valued at 1.26 sen or about RM13m. Total payout is about 39% of FY2026 PATAMI.

The share dividend format keeps cash in the company at a time when borrowings are elevated. Shareholders receive value in shares they can hold or sell, but it is not the same as a cash payout.